■ put-side pain■ call-side painTotal payout option writers would owe at each settle price (both sides, all open interest, ×100 shares) — low settles hurt put writers, high settles hurt call writers. The minimum — 25 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)ZETA open contracts per strike for Fri, Sep 4.
Open-interest change — building vs unwinding
Needs two observed snapshot days for this expiration — the comparison appears automatically once the next weekday snapshot lands. We diff real observations only; nothing is estimated.
Volume by strike · Fri, Sep 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 62.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Fri, Sep 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.88
-0.02
24
0.0433
0.01
-0.02
-0.12
0.86
-0.02
24.5
0.0501
0.02
-0.02
-0.14
0.83
-0.02
25
0.0571
0.02
-0.03
-0.17
0.80
-0.03
25.5
0.0641
0.02
-0.03
-0.20
0.76
-0.03
26
0.0708
0.02
-0.03
-0.24
0.68
-0.03
27
0.0820
0.03
-0.03
-0.32
0.59
-0.04
28
0.0888
0.03
-0.04
-0.41
0.50
-0.04
29
0.0904
0.03
-0.04
-0.50
0.41
-0.04
30
0.0873
0.03
-0.04
-0.59
0.34
-0.04
31
0.0808
0.03
-0.04
-0.67
0.30
-0.03
31.5
0.0767
0.03
-0.03
-0.70
0.27
-0.03
32
0.0722
0.02
-0.03
-0.73
0.24
-0.03
32.5
0.0675
0.02
-0.03
-0.76
0.21
-0.03
33
0.0628
0.02
-0.03
-0.79
0.17
-0.03
34
0.0535
0.02
-0.03
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 37 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.
Stacked — layer the expirations
Call open interest per strike, stacked across the checked expirations — each color is one expiry. Strikes are pruned to the liquid center of each chain.
Max pain is arithmetic, not prophecy: the settle price that would minimize what option writers pay out at expiration, computed from open interest alone. Prices sometimes gravitate toward heavy strikes into expiry — dealer hedging is a real flow — but the evidence that max pain predicts settlement better than chance is mixed, and we are not going to pretend otherwise. Use it as a map of where positioning is stacked, next to the fundamentals and the earnings calendar, not as a target.
Data: Cboe delayed public feed (~15 minutes), refreshed here about every 15 minutes. Open interest itself updates once daily, before the open. Educational information, not investment advice.